Who hasn’t heard the name of India’s Silicon Valley? Being the country’s paramount information technology exporter, Bangalore ranks amongst the top ten entrepreneurial destinations, thanks to its multifarious job opportunities and perennial pleasant climatic conditions. These factors further contribute in making Bangalore a favourable realty hub with outstanding IT infrastructure. And even though the general sentiment in the Indian real estate market is that of gloom, certain areas of Bangalore are bustling with real estate expansionary activities. This growth can be affiliated to the growing IT infrastructure, the upcoming metro projects, new international airport and construction of roads, flyovers and underpasses which are proving to be a catalyst in the realty development of these regions.
It is an incontestable fact that wherever infrastructure development occurs, rapid real estate development follows in its wake, bringing with it lucrative investment opportunities. And undeniably, real estate investment is all about ‘right timing’. This article will explore some hot realty spots in Bangalore that are buzzing with swift infrastructure development, rapid rise of residential and commercial projects and are showing huge potential for a realty upswing.
The measures that have been taken to revamp Bangalore focus on improving connectivity to central business districts and physical and social infrastructure that have enabled many regions to emerge as self-reliant micro markets. Prominent among them are Whitefield, Electronic City and Old Madras Road, which despite the depreciating prices, have managed to stay afloat owing to their promising infrastructure, high-end realty ventures and proximity to reputed IT firms.
The coming of International Tech Park in Whitefield initiated the evolution of realty infrastructure in this region spearheading development in East Bangalore for over a decade now. The presence of many IT parks, shopping destinations and high end residential projects make Whitefield a highly preferred destination of investors and home buyers. Moreover, the completion of Outer Ring Road (ORR) providing a signal-free stretch from Silk Board Junction to Hebbal via Electronic City to Whitefield has increased the connectivity in Eastern Bangalore. Both Whitefield and Electronic City boast of major IT companies, finest dining restaurants and hotels, well known schools, colleges and hospitals and close vicinity to SEZs.
When it comes to the residential segment, both Whitefield and Electronic City have witnessed momentous progress over the years. The rising rentals and prices and the fast paced city life has forced many people in Bangalore to move to the outskirts, their preference being Whitefield due to its affordable prices. Following is a brief discussion of some flagship projects in Whitefield and Electronic City that are in great demand. Republic of Whitefield comprises of lavish 2 and 3 BHK apartments sprawled across the urbane suburban landscape of Whitefield right behind Divyasree Techno Park, EPIP, Kundalahalli. Assetz Marq is another significant residential venture in Whitefield that offers elegant 2 and 3 BHK residences varying in area from 1245 sq. ft. to 1639 sq. ft., covering 28 acres of vast green expanse. Godrej United is a residential marvel by Godrej Properties offering 1, 2, 2.5, 3 and 4 BHK housing units that are surrounded by 80 per cent open spaces and enjoy smooth connectivity and proximity to important social utilities. Another sought after project in Whitefield is Serene Town, a joint venture between VBHC and Axis Spaces that consists of 220 extravagant apartments in 2 and 3 BHK options offering tranquil and comfortable surroundings to home buyers.
In the case of Electronic City, Godrej E City is in popular demand owing to its carefully crafted 1, 2, 2.5 and 3 BHK apartment units, world class facilities and infrastructure and 70 per cent open green spaces. VBHC Vaibhava is another flagship residential project located at Chandapura-Anekal Main Road comprising of 2 and 3 BHK residences with area ranging from 614 sq. ft. to 989 sq. ft. available at affordable rates.
This realty buzz is also spilling over to areas near Whitefield and Electronic City. One such region is Old Madras Road (OMR), an arterial road connecting Whitefield, Outer Ring Road and Indiranagar to the city. OMR, previously an industrial area, has now been converted for residential use, experiencing rapid urban growth in the process. Its connectivity to Ring Road, RMZ Infinity and Bagmane Tech Park, MG Road, Byapanahalli Metro Station and the airport has caught the attention of some major realty developers. Salarpuria Sattva has launched a premium residential project called East Crest near Budigere Cross on Old Madras Road which consists of 1, 2 and 3 BHK apartments ranging from 598 sq. ft. to 1530 sq. ft. The project is very close to the upcoming SEZ zones and the International Airport. Nitesh Virgin Island is another sough after project offering premium and exquisite condominiums that have within a 10 km radius schools, colleges, malls, hospitals and IT Parks.
Other areas that one can look out for in Bangalore are the settlements around Ring Roads and Bidadi in South-West Bangalore. The improved connectivity between Bangalore and Mysore owing to the four-lane State Highway and the upcoming Bangalore Mysore Infrastructure Corridor has pushed the realty development in the region of Bidadi. In case of North Bangalore, the Devanahalli International Airport has played a major role in transforming the landscape of localities like Bellary Road, Devanahalli and Yelahanka.
The ever increasing IT companies have made Bangalore an ideal location to live in. Ranked as the fourth best IT hub globally and the fifth fastest growing city in Asia, Bangalore is not only a favourite of domestic buyers but has also managed to capture the attention of NRIs, becoming the top most choice of Indian investors, both at home as well as abroad.